Cronos Group Inc. (NASDAQ: CRON) reported second quarter 2020 earnings results today.
Consolidated net revenues grew 29% year-over-year to $9.9 million, driven by continued growth in the adult-use Canadian cannabis market, sales from cannabis vaporizers and the Redwood acquisition.
Net loss amounted to $107.7 million, or $0.31 per share, compared to a net income of $185 million, or $0.16 per share.
During the second quarter, the company’s revenue growth rate in the US segment was materially impacted by COVID-19, as a significant number of retail customers experienced store closures, which hurt sales and demand.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
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